ValuEngine Upgrades Callon Petroleum (CPE) to “Hold”

ValuEngine upgraded shares of Callon Petroleum (NYSE:CPE) from a sell rating to a hold rating in a research note published on Thursday.

CPE has been the subject of several other reports. Stephens set a $20.00 price objective on Callon Petroleum and gave the company a buy rating in a research note on Wednesday, July 25th. Zacks Investment Research downgraded Callon Petroleum from a buy rating to a hold rating in a research note on Thursday, July 19th. KLR Group reaffirmed a buy rating and set a $16.00 price objective on shares of Callon Petroleum in a research note on Monday, August 20th. Barclays began coverage on Callon Petroleum in a research note on Wednesday, August 29th. They set an overweight rating and a $14.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on Callon Petroleum from $20.00 to $21.00 and gave the company a buy rating in a research note on Tuesday, June 12th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $16.11.

CPE opened at $11.67 on Thursday. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 27.79 and a beta of 1.10. Callon Petroleum has a 52 week low of $9.75 and a 52 week high of $14.65.

Callon Petroleum (NYSE:CPE) last posted its quarterly earnings data on Monday, August 6th. The oil and natural gas company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The company had revenue of $137.10 million for the quarter, compared to analysts’ expectations of $133.66 million. Callon Petroleum had a net margin of 31.27% and a return on equity of 7.25%. The firm’s revenue was up 66.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. equities research analysts expect that Callon Petroleum will post 0.86 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of CPE. Prospera Financial Services Inc purchased a new position in Callon Petroleum in the 2nd quarter valued at approximately $113,000. Miller Investment Management LP purchased a new position in Callon Petroleum in the 1st quarter valued at approximately $132,000. Marietta Investment Partners LLC purchased a new position in Callon Petroleum in the 2nd quarter valued at approximately $153,000. HPM Partners LLC purchased a new position in Callon Petroleum in the 2nd quarter valued at approximately $161,000. Finally, Cerebellum GP LLC purchased a new position in Callon Petroleum in the 2nd quarter valued at approximately $174,000.

About Callon Petroleum

Callon Petroleum Company, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Callon Petroleum (NYSE:CPE)

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